Comcast Corp. (NASDAQ:CMCSA), through its NBCUniversal division, is making one of its biggest international investments yet, committing more than £6 billion ($8 billion) to build its first major Universal theme park and resort in Europe.
The project, officially named Universal United Kingdom Resort, was announced on Wednesday. The resort will be built in Bedfordshire, England, and is expected to open in 2031.
According to the UK government, Comcast will invest more than £5 billion ($6.8 billion) during the five-year construction period and an additional £1 billion ($1.35 billion) during the first decade of operations.
The British government also pledged £1.3 billion ($1.7 billion) for roads, rail links and other infrastructure improvements needed to support the project.
The development is expected to create about 28,000 jobs, including 20,000 construction jobs and 8,000 permanent positions once the resort opens. Officials estimate the project could generate nearly £50 billion in economic benefits for the UK by 2055.
Growth Push
The resort will be Universal’s first major theme park destination in Europe and one of the largest tourism investments in the UK.
Comcast Chairman Brian Roberts called the project a “historic partnership” and said it would bring Universal’s entertainment experiences to Europe for the first time.
The investment comes as Comcast continues expanding its theme park business. Earlier this year, the company reported strong growth at its parks division, helped by the opening of Universal Epic Universe in Orlando.
Comcast has also been investing heavily across its broader entertainment business. The company benefited from strong advertising demand tied to major live events, including the Winter Olympics and the NFL’s Super Bowl, while continuing to grow its streaming and media operations through NBCUniversal.
Revenue Growth
The announcement comes ahead of Comcast’s next earnings report on July 30. In the first quarter, the company reported revenue of $31.46 billion, above analyst estimates of $30.40 billion, while earnings per share came in at $0.79, beating expectations of $0.73. Comcast has now topped EPS estimates for eight consecutive quarters.
Price Action: Comcast shares closed at $23.52 on Wednesday, down 5.35% for the session. The stock rose 1.5% in premarket trading Thursday, according to Benzinga Pro.
Benzinga Edge Stock Rankings place Comcast in the 47th percentile for Quality. The stock is showing negative price trends across short, medium and long-term time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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